Stevens Capital Management LP lifted its holdings in Signature Bank (NASDAQ:SBNY) by 348.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,641 shares of the bank’s stock after acquiring an additional 11,377 shares during the period. Stevens Capital Management LP’s holdings in Signature Bank were worth $2,078,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Calton & Associates Inc. acquired a new stake in Signature Bank during the 4th quarter valued at $222,000. Fox Run Management L.L.C. acquired a new stake in Signature Bank during the 4th quarter valued at $223,000. Robeco Institutional Asset Management B.V. acquired a new stake in Signature Bank during the 1st quarter valued at $261,000. Glenmede Trust Co. NA grew its holdings in Signature Bank by 101.9% during the 4th quarter. Glenmede Trust Co. NA now owns 2,110 shares of the bank’s stock valued at $289,000 after purchasing an additional 1,065 shares in the last quarter. Finally, BB&T Investment Services Inc. grew its holdings in Signature Bank by 27.6% during the 4th quarter. BB&T Investment Services Inc. now owns 2,145 shares of the bank’s stock valued at $292,000 after purchasing an additional 464 shares in the last quarter. 95.11% of the stock is owned by institutional investors.
NASDAQ SBNY opened at $129.31 on Friday. Signature Bank has a 12 month low of $116.68 and a 12 month high of $161.92. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.95 and a current ratio of 0.96. The firm has a market cap of $7.11 billion, a price-to-earnings ratio of 13.44, a P/E/G ratio of 1.07 and a beta of 1.14.
Signature Bank (NASDAQ:SBNY) last posted its quarterly earnings data on Thursday, April 19th. The bank reported $2.69 EPS for the quarter, beating the Zacks’ consensus estimate of $2.67 by $0.02. Signature Bank had a net margin of 18.57% and a return on equity of 13.29%. The firm had revenue of $325.35 million for the quarter, compared to the consensus estimate of $328.88 million. During the same period in the prior year, the firm posted $2.48 EPS. research analysts expect that Signature Bank will post 11.26 EPS for the current fiscal year.
A number of research firms recently weighed in on SBNY. BidaskClub lowered shares of Signature Bank from a “sell” rating to a “strong sell” rating in a report on Tuesday, May 8th. ValuEngine lowered shares of Signature Bank from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Morgan Stanley lowered their price target on shares of Signature Bank from $165.00 to $155.00 and set an “equal weight” rating for the company in a report on Tuesday, April 24th. TheStreet lowered shares of Signature Bank from a “b” rating to a “c+” rating in a report on Friday, April 20th. Finally, BMO Capital Markets lowered their price target on shares of Signature Bank from $192.00 to $171.00 and set an “outperform” rating for the company in a report on Friday, April 20th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company’s stock. Signature Bank currently has an average rating of “Buy” and a consensus target price of $158.40.
Signature Bank Company Profile
Signature Bank provides various business and personal banking products and services. It accepts various deposit products, including commercial checking accounts, money market accounts, escrow deposit accounts, cash concentration accounts, interest-bearing and non-interest-bearing checking accounts, certificates of deposit, time deposits, and other cash management products.
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